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Galectin Pharmaceuticals to Present Six Scientific Abstracts at The Liver Meeting™ 2021, Hosted by the AASLD

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  • New data regarding the mechanism of action of belapectin to inhibit galectin-3
  • Unique pharmacokinetic profile of belapectin in patients with hepatic insufficiency
  • Innovating in Liver Cirrhosis: Belapectin’s NAVIGATE phase 2b/3 study design
  • New data regarding correlation between routine liver tests and portal hypertension
  • Impact of NASH cirrhosis on patients’ Quality of Life
  • Use of Artificial Intelligence to further understand the histology of Liver Cirrhosis

NORCROSS, Ga., Oct. 27, 2021 (GLOBE NEWSWIRE) — Galectin Therapeutics Inc. (NASDAQ:GALT), the leading developer of therapeutics that target galectin proteins, today announced that it will present six scientific abstracts at The Liver Meeting™ 2021, hosted by the American Association for the Study of Liver Diseases (AASLD), to be held virtually from November 12 to 15, 2021.

“Much of the focus on non-alcoholic fatty liver disease (NAFLD) and non-alcoholic steatohepatitis (NASH) has been on preventing the progression to liver cirrhosis, but there has been little focus on treating those affected with actual NASH cirrhosis. We are dedicated to change this situation, and our objective is to bring new solutions to cirrhotic patients, as they are in greatest need of therapeutic options,” said Pol Boudes, M.D., Chief Medical Officer for Galectin Therapeutics. “Our work in developing belapectin, our galectin-3 inhibitor, focuses on the prevention of esophageal varices in NASH cirrhosis patients. We have generated a wealth of new data on NASH cirrhosis and portal hypertension and we are pleased to share this research at The Liver Meeting. Also, NAVIGATE, our phase 2b/3 global study, represents a new way to undertake clinical research in cirrhotic patients, and we hope this will trigger the interest of the hepatic community and drug developers around the world in addressing this devastating disease.”

These abstracts will be available for viewing by attendees on the AASLD website and are also featured in the October supplement to the AASLD journal, Hepatology.

Presentation Details

Title: Mechanism of galectin-3 binding by belapectin, a galectin-3 inhibitor developed for NASH cirrhosis
Galectin-3, a glycan binding protein, plays a central role to foster liver inflammation and fibrosis in NASH cirrhosis. Belapectin is a galectin-3 inhibitor in development for NASH cirrhosis. We use heteronuclear Nuclear Magnetic Resonance (NMR) spectroscopy to evaluate the intimate, and unique, binding of belapectin to galectin-3.

Publication Number: 2177
Authors: Pol Boudes, M.D.; Eliezer Zomer, Ph.D.; Harold Shlevin, Ph.D.
Session title: NAFLD and NASH: Therapeutics – Pharmacologic and Other
Date: Friday, November 12, 2021
Time: 6:00 am – 11:55 am ET

Title: Pharmacokinetic exposure and safety of belapectin, a candidate treatment for NASH-cirrhosis, in patients with hepatic insufficiency
We share interim results of an open-label Phase I study assessing the pharmacokinetic and safety profiles of belapectin, a galectin-3 inhibitor, in patients with different degrees of hepatic insufficiency.

Publication Number: 2177
Authors: Pol Boudes, M.D., Barbara Lomeli, M.D.; Eliezer Zomer, Ph.D.; Stephen A. Harrison, M.D.; Juan Rondon, M.D., J.D.; Eric Lawitz, M.D.
Session title: NAFLD and NASH: Therapeutics – Pharmacologic and Other
Date: Friday, November 12, 2021
Time: 6:00 am – 11:55 am ET

Title: Innovating in cirrhosis: NAVIGATE, a seamless, adaptive, phase 2b/3 of belapectin, a galectin-3 inhibitor, for the prevention of esophageal varices in NASH cirrhosis
Drug development in NASH cirrhosis is a challenge. The safety profile of candidate drugs is difficult to establish, particularly for liver-related side effects, there is no overall measure of liver function available, and there is no sensitive method to measure cirrhosis improvement on histology. These challenges led to the proposal of an innovative study design for the NAVIGATE Study. The study evaluates the risk/benefit of belapectin to prevent esophageal varices in NASH cirrhosis.

Publication Number: 2304
Authors: Pol Boudes, M.D.; Stephen A. Harrison, M.D.; Naga Chalasani, M.D.
Session title: NAFLD and NASH: Experimental: Clinical
Date: Friday, November 12, 2021
Time: 6:00 am – 11:55 am ET

Title: Distribution of the AST/ALT (de Ritis) ratio in a cohort of patients with NASH cirrhosis and portal hypertension and correlation with portal pressure
In patients with Non-Alcoholic Fatty Liver Disease (NAFLD), an increased AST/ALT ratio may indicate the progression to liver cirrhosis. This poster uses data from Galectin Therapeutics’ large Phase 2 clinical study in patients with well-documented liver cirrhosis due to NASH and hemodynamically measured portal hypertension. We explore whether the AST/ALT (de Ritis) ratio could be used as a simple, non-invasive way to estimate the degree of portal hypertension.

Publication Number: 2307
Authors: Pol Boudes, M.D.; Jörn M. Schattenberg, M.D.; Eric Lawitz, M.D.
Session title: Portal Hypertension and Other Complications of Cirrhosis: Varices and Bleeding
Date: Friday, November 12, 2021
Time: 6:00 am – 11:55 am ET

Title: Features of portal hypertension predict health related quality of life over time in NASH cirrhosis
Nonalcoholic steatohepatitis has a significant negative effect on health-related quality of life. In cirrhosis, age and features of clinically significant portal hypertension at baseline are determinants of lower quality of life.

Publication Number: 1687
Authors: Andrea Mladenovic, M.D.; Raj Vuppalanchi, M.D.; Pol Boudes, M.D.; Harold Shlevin, Ph.D.; Stephen A. Harrison, M.D.; Naga P. Chalasani, M.D.; Archita Parikh Desai, M.D.
Session title: NAFLD and NASH: Epidemiology and Natural History, Prevention and Outcomes
Date: Friday, November 12, 2021
Time: 6:00 am – 11:55 am ET

Title: Development of machine learning histological scores that correlated with portal pressures and development of varices in NASH patients with cirrhosis
In this study, portal pressure was accurately extrapolated from liver histology in patients with NASH cirrhosis by use of a machine learning algorithm. Clinically significant portal hypertension and the development of varices were also accurately predicted.

Publication Number: 1591
Authors: Mazen Noureddin, M.D., MHSc; Zachary Goodman, M.D., Ph.D.; Dean Tai, Ph.D.; Yayun Ren Sr., Pol Boudes, M.D.; Elaine Lay Khim Chng, Ph.D. Harold Shlevin, Ph.D.; Stephen A. Harrison, M.D.; Naga P. Chalasani, M.D.
Session title: NAFLD and NASH: Diagnostics and Biomarkers
Date: Friday, November 12, 2021
Time: 6:00 am – 11:55 am ET

About Belapectin

Belapectin is a complex carbohydrate drug that targets galectin-3, a critical protein in the pathogenesis of NASH and fibrosis. Galectin-3 plays a major role in diseases that involve scarring of organs including fibrotic disorders of the liver, lung, kidney, heart and vascular system. Belapectin binds to galectin-3 and disrupts its function. Preclinical data in animals have shown that belapectin has robust treatment effects in reversing liver fibrosis and cirrhosis. A Phase 2 study showed belapectin may prevent the development of esophageal varices in NASH cirrhosis, and these results provide the basis for the conduct of the NAVIGATE trial. The NAVIGATE trial (NAVIGATEnash.com), entitled “A Seamless Adaptive Phase 2b/3, Double-Blind, Randomized, Placebo-controlled Multicenter, International Study Evaluating the Efficacy and Safety of Belapectin for the Prevention of Esophageal Varices in NASH Cirrhosis” began randomization of patients in August, 2020, and is posted on www.clinicaltrials.gov (NCT04365868).

Galectin-3 also has a significant role in cancer, and the Company has supported a Phase 1b study in combined immunotherapy of belapectin and KEYTRUDA® in advanced melanoma and in head and neck cancer. This trial provided a strong rationale for moving forward into a Phase 2 development program, which the company is considering.

About the American Association for the Study of Liver Diseases (AASLD)

AASLD is the leading organization of scientists and health care professionals committed to preventing and curing liver disease. AASLD fosters research that leads to improved treatment options for millions of liver disease patients. It also advances the science and practice of hepatology through educational conferences, training programs, professional publications, and partnerships with government agencies and sister societies. AASLD’s annual scientific conference, The Liver Meeting™, is the world’s premier meeting on liver disease, bringing together clinicians, associates, and scientists from around the world to exchange information on the latest research, discuss new developments in liver treatment and transplantation, and network with leading experts in the field of hepatology.

About Galectin Therapeutics

Galectin Therapeutics is dedicated to developing novel therapies to improve the lives of patients with chronic liver disease and cancer. Galectin’s lead drug belapectin is a carbohydrate-based drug that inhibits the galectin-3 protein which is directly involved in multiple inflammatory, fibrotic, and malignant diseases, for which it has Fast Track designation by the U.S. Food and Drug Administration. The lead development program is in non-alcoholic steatohepatitis (NASH) with cirrhosis, the most advanced form of NASH-related fibrosis. This is the most common liver disease and one of the largest drug development opportunities available today. Additional development programs are in treatment of combination immunotherapy for advanced melanoma and other malignancies. Advancement of these additional clinical programs is largely dependent on finding a suitable partner. Galectin seeks to leverage extensive scientific and development expertise as well as established relationships with external sources to achieve cost-effective and efficient development. Additional information is available at www.galectintherapeutics.com.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to future events or future financial performance, and use words such as “may,” “estimate,” “could,” “expect” and others. They are based on management’s current expectations and are subject to factors and uncertainties that could cause actual results to differ materially from those described in the statements. These statements include those regarding the hope that Galectin’s development program for belapectin will lead to the first therapy for the treatment of fatty liver disease with cirrhosis and those regarding the hope that our lead compounds will be successful in cancer immunotherapy and in other therapeutic indications. Factors that could cause actual performance to differ materially from those discussed in the forward-looking statements include, among others, that trial endpoints required by the FDA may not be achieved; Galectin may not be successful in developing effective treatments and/or obtaining the requisite approvals for the use of belapectin or any of its other drugs in development; the Company may not be successful in scaling up manufacturing and meeting requirements related to chemistry, manufacturing and control matters; the Company’s current clinical trial and any future clinical studies as modified to meet the requirements of the FDA may not produce positive results in a timely fashion, if at all, and could require larger and longer trials, which would be time consuming and costly; plans regarding development, approval and marketing of any of Galectin’s drugs are subject to change at any time based on the changing needs of the Company as determined by management and regulatory agencies; regardless of the results of any of its development programs, Galectin may be unsuccessful in developing partnerships with other companies or raising additional capital that would allow it to further develop and/or fund any studies or trials. Galectin has incurred operating losses since inception, and its ability to successfully develop and market drugs may be impacted by its ability to manage costs and finance continuing operations. Global factors such as coronavirus may continue to impact NASH patient populations around the globe and slow trial enrollment and prolong the duration of the trial and significantly impact associated costs. For a discussion of additional factors impacting Galectin’s business, see the Company’s Annual Report on Form 10-K for the year ended December 31, 2020, and subsequent filings with the SEC. You should not place undue reliance on forward-looking statements. Although subsequent events may cause its views to change, management disclaims any obligation to update forward-looking statements.

Company Contact:

Jack Callicutt, Chief Financial Officer
(678) 620-3186
[email protected]

Galectin Therapeutics and its associated logo is a registered trademark of Galectin Therapeutics Inc. Belapectin is the USAN assigned name for Galectin Therapeutics’ galectin-3 inhibitor GR-MD-02.

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Free Your Hands, QIDI Vida Smart AR Glasses Lead the Way in New Sports Experience.

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NEW YORK, April 19, 2024 /PRNewswire/ — Outdoor smart AR glasses, QIDI Vida, will officially launch on 23rd April on the Kickstarter platform.  QIDI Vida integrates the many functions of smart watches, sports headphones, cycling computers, heart rate monitors, and walkie-talkies using AR+AI technology, allowing users to bid farewell to cumbersome device management and enjoy outdoor sports anytime, anywhere with just one pair of glasses.

 
Function:
QIDI Vida uses high-tech HUD (Head-Up Display) which is similar to the technology used for aircrafts and premium cars and introduces it to the sports industry. Users can activate the HUD function at any time using voice control, enabling them to focus on the route ahead whilst simultaneously having access to information such as navigation, speed, heart rate, power and cadence, among other metrics. Another great function of the QIDI Vida is that users can also enjoy audiovisual entertainment through the optically perceived 100-inch AR  HUD screen, when having some down time. 
As cyclists and hikers often travel in groups, QIDI Vida supports eSIM and team functionality, allowing real-time voice communication without releasing handlebars, and users can monitor their groups’ real-time locations. The glasses also have comprehensive sensing and monitoring capabilities including temperature, humidity, UV, air pressure, geomagnetism and acceleration. In addition to obtaining environmental and health information, it also features health warnings such as altitude sickness symptoms and high heart rate, as well as fall and collision detection functions. And, in the event of danger, it can send distress signals to teammates.
Perks:
QIDI Vida has a global voice recognition and interaction feature that allows you to control all functions within the device by voice. To better provide users with an immersive sports experience, QIDI Vida’s intelligent system will have the capability to instantly gather personalised sports data, enabling it to deliver timely voice alerts and broadcasts, including the duration of exercise, distance, the environment and the weather – all tailored to the user’s preferences.
QIDI Vida enables voice-controlled photos and video recordings, allowing users to capture moments whilst cycling or hiking without the need to stop. QIDI Vida supports connections with common cycling smart hardware such as Garmin, Wahoo, Apple, and Samsung, supports GPX route files, and is compatible with professional sports apps such as Strava, Keep, Zwift, Apple Health, and All Trails.
QIDI Vida stands out for its lightweight and comfortable design with a dual lens for a full-colour data display, unlike competing AR glasses that typically have a single lens and limited colour. This innovation significantly enhances and augments the user’s sports and reality experience.
QIDI Vida will launch on the Kickstarter platform: https://www.kickstarter.com/projects/109560964/qidi-vida-smart-ar-glasses-for-sports
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Risk Analytics Market worth $180.9 billion by 2029 – Exclusive Report by MarketsandMarkets™

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CHICAGO, April 19, 2024 /PRNewswire/ — The growing use of real-time monitoring and advanced analytics, integration with cutting-edge technologies like blockchain and IoT, and an emphasis on cybersecurity, cross-industry applications, and regulatory compliance are the key factors that will shape the risk analytics market in the future. The market’s development will also be influenced by collaborative risk management, improved user experience, and an increasing focus on ESG factors and risk culture.

The Risk Analytics Market is estimated to grow from USD 59.7 billion in 2024 to USD 180.9 billion in 2029, at a CAGR of 24.8% during the forecast period, according to a new report by MarketsandMarkets™.  Several trends fuel the global spread of Risk Analytics. Increasingly Increasing Data Complexity, Rising Cybersecurity Threats and Rising Adoption of Cloud-Based Solutions A growing talent pool of data scientists and engineers is building the necessary tools and infrastructure. Governments are recognizing the potential of risk analytics for economic growth and are investing in research and development. These trends make DI more accessible and valuable, leading to its global adoption.
Browse in-depth TOC on “Risk Analytics Market”260 – Tables 60 – Figures350 – Pages
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=210662258
Scope of the Report
Report Metrics
Details
Market size available for years
2019–2023
Base year considered
2023
Forecast period
2024–2029
Forecast units
USD Billion
Segments Covered
Offering,Risk Type, Risk stages, Vertical, and Region.
Geographies covered
North America, Europe, Asia Pacific, Middle East & Africa, and Latin America
Companies covered
IBM (US), SAS Institute (US), Oracle (US), FIS(US), Moody’s Analytics (US), ProcessUnity(US), ServiceNow (US), Marsh (US), Aon (UK), MetricStream (US), Resolver (Canada), SAP (Germany), Milliman(US), LogicManager(US), Provenir(US), SAI360(US), Deloitte(UK), OneTrust(US), Diligent(US), Alteryx(US), CRISIL(India), Archer(US), ZestyAI(US), Fusion Risk Management(US), RiskVille(Ireland), SPIN Analytics(UK), Kyvos Insights(US), Imperva(US), Cirium(UK), Quantexa(UK), ClickUp(US), Sprinto(US), Ventiv(US), Adenza(US), Centrl.AI(Canada), SafetyCulture(Australia), Quantifi(US), CubeLogic(UK), Onspring(US), Riskoptics(US)
 
By offering the services segment to account for higher CAGR during the forecast period
In the Risk Analytics Market, the highest CAGR of services is fueled by Increasing Complexity of Risks, AI and machine learning advancements, big data analytics integration, business process optimization, cloud-based solutions adoption, data-driven culture, and diverse industry adoption. These trends reflect a global shift towards leveraging data for competitive advantage, driving a continuous need for sophisticated risk analytics services across sectors. As businesses prioritize agility, the growth of services in the Risk Analytics Market is driven by the need for effective risk management strategies in an increasingly complex and uncertain business environment.
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By Type, GRC software is expected to hold the largest market size for the year 2024
GRC software typically offers comprehensive solutions that cover a wide range of risk management needs, including compliance management, policy management, audit management, and risk assessment. They also provide organizations with enhanced visibility into their risk landscape. Through features such as risk assessment, risk monitoring, and reporting, organizations can identify and prioritize risks more effectively, enabling proactive risk management strategies.  GRC software streamlines risk management processes through automation, reducing manual effort and increasing efficiency. Tasks such as risk assessments, control testing, and incident management can be automated, freeing up resources to focus on strategic risk mitigation efforts. the combination of comprehensive functionality, regulatory compliance support, efficiency gains, scalability, integration capabilities, and culture enhancement makes GRC software a preferred choice for many organizations seeking to manage risk effectively.
By Vertical, Healthcare & Life Sciences is projected to grow at the highest CAGR during the forecast period
The Healthcare and Lifesciences is experiencing a surge in the adoption of risk analytics due to a confluence of factors. Healthcare providers and life sciences companies wants to ensure the safety and well-being of patients. Risk analytics helps in identifying potential risks to patient safety, such as medication errors, adverse events, and medical device failures. The healthcare and life sciences industries are heavily regulated, with strict guidelines for patient care, data privacy, drug development, and clinical trials. Risk analytics helps organizations ensure compliance with these regulations by identifying and mitigating risks of non-compliance.  Healthcare organizations and life sciences companies also face financial risks associated with fraud, billing errors, revenue cycle management, and reimbursement challenges. Risk analytics helps in detecting anomalies and optimizing financial processes to mitigate these risks.
Asia Pacific is expected to grow at the highest CAGR during the forecast period
The Asia-Pacific (APAC) region is experiencing rapid growth in the Risk Analytics Market, boasting the highest Compound Annual Growth Rate (CAGR). This surge is primarily attributed to rising demand for data-driven decision-making solutions, expanding digital transformation initiatives across industries.. Moreover, the region’s favorable regulatory environment, growing investments in big data analytics, and the integration of advanced technologies like the Internet of Things (IoT) further propel APAC’s dominance in Risk Analytics Market growth.
Top Key Companies in Risk Analytics Market:
The major risk analytics software and service providers include IBM (US), SAS Institute (US), Oracle (US), FIS(US), Moody’s Analytics (US), ProcessUnity(US), ServiceNow (US), Marsh (US), Aon (UK), MetricStream (US), Resolver (Canada), SAP (Germany), Milliman(US), LogicManager(US), Provenir(US), SAI360(US), Deloitte(UK), OneTrust(US), Diligent(US), Alteryx(US), CRISIL(India), Archer(US), ZestyAI(US), Fusion Risk Management(US), RiskVille(Ireland), SPIN Analytics(UK), Kyvos Insights(US), Imperva(US), Cirium(UK), Quantexa(UK), ClickUp(US), Sprinto(US), Ventiv(US), Adenza(US), Centrl.AI(Canada), SafetyCulture(Australia), Quantifi(US), CubeLogic(UK), Onspring(US), Riskoptics(US). These companies have used both organic and inorganic growth strategies such as product launches, acquisitions, and partnerships to strengthen their position in the Risk Analytics Market.
Recent Developments:
In March 2024, Orcale announced Oracle Risk Management Cloud in Release 24B. It offers comprehensive solution designed to help organizations identify, assess, and mitigate risks across their business operations. It offers advanced analytics, automation, and collaboration tools to streamline risk management.In March 2024, FIS Global announces card fraud detection capabilities leveraging artificial intelligence (AI) with aim to bolster FIS’s ability to identify and prevent fraudulent transactions, providing greater security for cardholders and financial institutions alike.In March 2024, Aon acquired an AI-powered platform to assist fleet and mobility clients in making data-driven decisions, enhancing operational efficiency and risk management. The platform utilizes artificial intelligence to analyze data and provide insights, enabling clients to optimize their fleet operations and improve decision-making processes.In March 2024, Crisp joined Resolver, with the aim to enhance Resolver’s risk intelligence capabilities by integrating Crisp’s expertise and technology into its platform, offering clients improved risk assessment and mitigation tools.In February 2024, SAS partnered with Carahsoft to bring analytics, AI, and data management solutions to the public sector. The aim is to leverage SAS’s expertise in advanced analytics and Carahsoft’s extensive government market reach to offer tailored solutions that enable public sector organizations to harness the power of data for informed decision-making and improved outcomes.Inquire Before Buying@ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=210662258
Risk Analytics Market Advantages:
By offering insights into potential risks, opportunities, and trends, risk analytics helps organisations make data-driven decisions that improve strategic planning and resource allocation.In order to improve risk management procedures and lessen exposure to possible threats, risk analytics solutions assist businesses in identifying, evaluating, and mitigating risks across a range of business activities, including finance, operations, and compliance.Through real-time monitoring and anomaly detection made possible by risk analytics, organisations may proactively address shifting market situations, legal requirements, and cybersecurity threats.Risk analytics solutions assist organisations lower operating costs, increase productivity, and streamline compliance activities, which results in cost savings and resource optimisation. They do this by streamlining risk management procedures and automating routine work.Accurate risk assessments, audit trails, and reporting capabilities are just a few of the ways that risk analytics solutions help organisations comply with regulations and stay out of trouble.Organisations can enhance their resilience and competitiveness by anticipating and mitigating potential hazards before they materialise through the use of predictive modelling and advanced analytics approaches in risk analytics.Report Objectives
To define, describe, and predict the Risk Analytics Market by offering, risk type, risk stages, vertical, and regionTo provide detailed information about the major factors (drivers, restraints, opportunities, and challenges) influencing the market growthTo analyze the opportunities in the market and provide details of the competitive landscape for stakeholders and market leadersTo forecast the market size of segments with respect to five main regions: North America, Europe, Asia Pacific, Middle East & Africa, and Latin AmericaTo profile the key players and comprehensively analyze their market rankings and core competenciesTo analyze the competitive developments, such as partnerships, product launches, and mergers & acquisitions, in the Risk Analytics MarketBrowse Adjacent Markets: Analytics Market Research Reports & Consulting
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Robotic Palletizer Market worth $1.9 billion by 2029 – Exclusive Report by MarketsandMarkets™

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CHICAGO, April 19, 2024 /PRNewswire/ — The robotic palletizer market is projected to grow from USD 1.4 billion in 2024 and is expected to reach USD 1.9 billion by 2029, growing at a CAGR of 5.9% from 2024 to 2029 according to a new report by MarketsandMarkets™. Rising awareness towards workplace safety and reducing the risk of work-related injuries to drive the market. Robotic palletizers significantly enhance workplace safety and reduce the risk of work-related injuries and associated costs. By automating repetitive tasks like palletizing, businesses can redeploy their human workforce to higher-value activities that require human skills like problem-solving, critical thinking, and customer interaction. This allows them to optimize their workforce and leverage human capabilities more effectively.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=251064253
Browse in-depth TOC on “Robotic Palletizer Market” 100 – Tables60 – Figures200 – Pages
Robotic Palletizer Market Report Scope:
Report Coverage
Details
Market Revenue in 2024
$ 1.4 billion
Estimated Value by 2029
$ 1.9 billion
Growth Rate
Poised to grow at a CAGR of 5.9%
Market Size Available for
2020–2029
Forecast Period
2024–2029
Forecast Units
Value (USD Million/Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
By Component, Robot Type, Application, End-use Industry and Region
Geographies Covered
North America, Europe, Asia Pacific, and Rest of World
Key Market Challenge
High initial investment cost
Key Market Opportunities
Increasing application in small and medium-sized enterprises
Key Market Drivers
Growing labor shortage and need for workforce optimization
 
Collaborative robots in the robot type segment are expected to witness higher growth rate during the forecast period.
Collaborative robots are expected to witness a higher CAGR during the forecast period. Unlike traditional industrial robots that often require physical barriers or cages to protect human workers, cobots are equipped with advanced safety features, such as force and torque sensors, collision detection, and speed monitoring. These features enable cobots to operate safely in proximity to humans without posing significant risks of injury.
The Pharmaceutical segment in the robotic palletizer market is expected to witness highest growth rate during the forecast period.
Pharmaceutical products are subject to strict regulations regarding storage, handling, and quality control. Robotic palletizers play a crucial role in providing greater precision and consistency in palletizing tasks and minimizing the risk of contamination within pharmaceutical manufacturing facilities. It also reduces human intervention in the handling and stacking of products and helps mitigate the potential for cross-contamination and ensures adherence to strict hygiene standards.
End-of-Arm- Tooling (EOAT) component is expected to witness the highest CAGR in the robotic palletizer market during the forecast period.
End-of-arm tooling (EOAT) is a crucial element of a robotic arm system, especially in applications like robotic palletizing, where the robot needs to interact with various objects or products. EOAT essentially acts as the hand of the robotic arm, designed to securely grasp, lift, and place boxes or cases onto pallets. Overall, EOAT plays a vital role in the effectiveness of robotic palletizers as it ensures secure handling of products, efficient palletizing patterns, and smooth operation of the entire system.
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North America is expected to hold the largest share of the robotic palletizer industry during the forecast period.
North America is home to major automobile and retail companies, which has accelerated the demand for robotic palletizers in this region. Additionally, the rise in manufacturing activity, fueled by plans for reshoring and technological improvements, has further driven the need for robotic palletizers. In North America, certain government funds are available to increase workplace safety. In 2023, the Occupational Safety and Health Administration announced a grant of approximately USD 12.7 million to 100 non-profit organizations across the nation to provide education and training for workers and employers about recognizing workplace hazards, injury prevention, and understanding workers’ rights and employers’ responsibilities under federal law. Businesses that use robotic palletizers may be eligible for funding as they lower the risk of worker injuries from manual lifting.
Key Players
Leading players in the robotic palletizer companies include FANUC CORPORATION (Japan), KION GROUP AG (Germany), KUKA AG (Germany), ABB (Switzerland), and Krones AG (Germany). Schneider Packaging Equipment Company, Inc. (US), Honeywell International Inc. (US), Kaufman Engineered Systems (US), Concetti S.p.A. (Italy), Sidel (France), Brenton, LLC. (US), A-B-C Packaging Machine Corporation (US), Antenna Group (Italy), BEUMER GROUP (Germany), Brillopak (UK), BW Integrated Systems (US), Columbia Machine, Inc. (US), Euroimpianti S.p.A. (Italy),  Fuji Yusoki Kogyo Co., Ltd. (Japan), HAVER & BOECKER OHG (Germany), KHS Group (Germany), MMCI  (US), Okura Yusoki Co., Ltd. (Japan), Rothe Packtech Pvt. Ltd. (India),  and S&R Robot Systems, LLC. (US) are few other key companies operating in the robotic palletizer market.
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